Helping to pay a mortgage does not give you any interest in the property. The court would likely view your payments as rent and your living expenses unless you handed over an extremely large part of the mortgage or had some agreement in writing.
You hve no rights in the property. On the other hand, you have no obligation to pay the mortgage or other expenses related to the home.
All the owners of the property must sign the mortgage so that the lender can take possession of the property in the case of a default. Property rights between married couples vary by state and vary between community property and separate property states. You need to check with an attorney in your jurisdiction.All the owners of the property must sign the mortgage so that the lender can take possession of the property in the case of a default. Property rights between married couples vary by state and vary between community property and separate property states. You need to check with an attorney in your jurisdiction.All the owners of the property must sign the mortgage so that the lender can take possession of the property in the case of a default. Property rights between married couples vary by state and vary between community property and separate property states. You need to check with an attorney in your jurisdiction.All the owners of the property must sign the mortgage so that the lender can take possession of the property in the case of a default. Property rights between married couples vary by state and vary between community property and separate property states. You need to check with an attorney in your jurisdiction.
If you are not on the deed you have no rights in the property. If you are not legally married and the owner dies you have no legal rights in the property.
If the property in which you have a life estate is a separate and distinct property from the property your son mortgaged (and you co-signed) then the lender has no rights in your life estate property. If the property your son mortgaged is the same property in which you have a life estate then if he defaults on the mortgage and the lender takes possession you will also your life interest in the property since you also signed the mortgage.
Actually, you have no rights. All you have is an obligation to pay the mortgage if the primary borrower doesn't pay. If you co-signed a mortgage for property that is owned by another person you have offered to pay the mortgage even though you have no rights or interest in the property. If the borrower defaults the bank will go after you for payments just as you promised when you signed the mortgage. If the mortgage is foreclosed it will be reported on your credit record.
The mortgage obligation remains on the property. If the holder of the mortgage dies then her heirs own the mortgage.
The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.The owner can sell the property. If one person is on the deed then that person can sell the property. The mortgage must be paid off at the time of the sale. It is not a good idea to transfer your rights in property by a deed if you are still on the mortgage.
If the second mortgage is in default the second mortgagee can foreclose and take possession of the property subject to the first mortgage.
You and your husband are the legal owners of the property but it is subject to the mortgage. If you default on the mortgage payments the bank can take possession of the property by foreclosure.
Generally, if you are not married and you are not an owner of the property then you have no rights in the property when your relationship ends.
Voluntary alienation is when the owner voluntarily gives up their rights to the property such as in granting a mortgage to a lender.
He owns an interest in the property but he is not responsible for paying for it. He got a great deal. If the property is sold he will be entitled to half the proceeds after the mortgage is paid off.